Bloomberg News

Hungary Eyes E.ON Gas Unit for Russia Talks, Napi Gazdasag Says

March 02, 2012

Hungarian state-owned electricity wholesaler MVM Zrt. may represent the country in talks on imports of Russian gas if it takes over the local gas unit of Germany’s E.ON AG (EOAN), Napi Gazdasag reported.

The contract between E.ON and OAO Gazprom (GAZP) is set to expire in 2015, the newspaper said, citing an interview with Pal Kovacs, state secretary at the Development Ministry.

“In relation to talks aimed at buying the gas business of E.ON, it seems there may be a radically different situation from 2015,” Kovacs said. “We are now looking at the possibilities of state involvement.”

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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